We want to recognize Tyler Siegworth, Real Estate Analyst, who was awarded the Bernie Shaner Award for Excellence! The award is bestowed annually to a team member who makes a selfless commitment of their time, talent and/or financial resources to others in our firm, our industry and the community at large. This award honors our founder Bernie Shaner, who has displayed such traits throughout his career. Upon receiving this award, Tyler is given the opportunity to award a donation to the charity of his choice via the Shaner Appraisals Charitable Foundation.

Below is an article from the latest National Valbridge newsletter featuring our Director of Multifamily Valuation, Daniel Kann, MAI:

Sherlock Holmes could very well have become an income-property appraiser. Valbridge professionals act as detectives with every market and feasibility study they perform. Most often the mystery is to deduce the highest and best use of a property; in other words, the use that would produce the highest net return on investment.

Valbridge's Daniel Kann, MAI, a multifamily valuation expert, undertook such an exercise when he performed a market and feasibility study for the owner of a 14-acre suburban site. His analysis began by determining what was physically possible for the site, what uses were permitted under zoning laws and deed restrictions, and what was economically feasible.

Then his examination got really interesting.To estimate demand for different potential product types, he analyzed employment and income data, other demographic information, and existing and future inventory and supply in various stages of production. He studied market occupancy, projected absorption, and estimated sales prices and asking rents for various multifamily options.​Daniel and his team evaluated 31 comparable properties in addition to the overall market, and analyzed the option of holding the site for future development versus developing it immediately.

The market and feasibility study concluded that the area in which the site is located could not support additional rental housing. In fact, depending on the timing of additional phases at other developments, the market could become even more overbuilt — with increased vacancy, declining asking rents and additional concessions necessary to capture tenants.

Rather, the analysis revealed, a for-sale residential use would be maximally profitable. The target market: professionals and empty nesters without children who have a higher median household income. The highest-return on investment type: a patio/villa home project. Daniel’s study illuminated even more, including the optimal mix of floor plans and unit sizes.

Sherlock Holmes couldn’t have produced a more revealing result.

October 10, 2010

Best Places to Work- Runner-up: Shaner Appraisals Inc.

Top executives: President Laird Goldsborough, and founder and director Bernie Shaner

Employment philosophy: Self-motivation, confidence and chemistry among employees are held in high regard at Shaner. Most have backgrounds as brokers or experience with the county assessment offices.

“The job part is pretty serious,” Goldsborough said. “The other part – life in general – not so much.”

Employee loyalty: Goldsborough, who celebrated his 20th anniversary with Shaner on Oct. 1, said that no one has left the firm in almost four years and that he doesn’t expect anyone to leave anytime soon.

“We’re really lucky; it’s working really well,” he said.

Employee initiatives: Shaner’s top executives strongly support and encourage real estate analysts to achieve their MAI designation, which is the top designation in the appraisal industry.

Jason Roos, a real estate analyst who hopes to have his designation in a few months, said he knows of other companies that discourage it because they are worried their employees will leave once they do. Shaner is not worried and offers a 100 percent reimbursement program as proof.

T.J. Hawks, a real estate analyst, said employees who obtain MAI designation become shareholders in the firm, receive more responsibilities and have the opportunity to make more money.

He said he’s lasted in the industry longer than some of his friends because of Shaner’s dedication to his professional growth.

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